Institutional Analysis Of Market-oriented Allocation Of Data Elements

The development of informatization and intelligence under the scientific and technological revolution has given rise to the emerging element,data,leading the growth rate of social and economic development and promoting the transformation and upgrading of industrial structure.The high-quality development of China cannot be separated from the new digital industry under the fourth wave of technological revolution,but the real problems such as ambiguous property rights mechanism,lack of sharing mechanism and incomplete safety supervision mechanism of data elements critically restrict the efficiency of data elements utilization from improving in China,and how to collect and integrate data resources and make full use of data elements to prop up the China’s economy with sustainable and stable development will be an crucial challenge for future economic development.Marx’s paradigm of institutional analysis provides a solid theoretical foundation for properly understanding and solving the problem of market-oriented allocation of data factors,and the attempts of institutional construction under Western liberalism theory have practiced and explored the improvement of institutional efficiency of data factors,and also provided experience for the world digital development.It can be seen that both realistic development and theoretical research have highlighted the importance of market-oriented allocation of data elements and institutional construction,and the analysis of the market allocation of data factors has a strong urgency and distinct topicality.This paper analyzes the problems in the process of market allocation of data elements in China from the perspective of political economy and analyzes the theoretical and practical logic of its institutional construction.Firstly,it defines the concept of data elements and the connotation of market-oriented allocation,and compares the differences between Marxist institutional economic theory and institutional concepts in the current institutional economics,and constructs the analytical framework of Marxist institutional economic theory.Secondly,it examines the current situation and existing problems of market-oriented allocation of data elements in China.Furthermore,it analyzes the motivation of institutional construction under the market-oriented allocation of data factors in China with the support of Marxist institutional change theory,compare and analyze the commonalities and characteristics of data factors as new factors compared with other factors in market allocation,and focus on the adjustment of economic operation mechanism at the micro level to improve the institutional efficiency of data factors.Finally,we compare the characteristics of market-based data factor allocation models in the United States,the European Union and Japan,as well as in Shanghai,Guizhou and Beijing,summarize the successful experiences of institutional construction in the process of market-based allocation and put forward relevant policy recommendations.The main conclusions are as follows:(1)China has huge data factor resources and a complete technical and economic foundation,but the main reason for the low utilization efficiency is the lack of institutional structure.(2)The institutional structure under the allocation based on market demand of data factors in China is a mandatory selection for economic development and it meets the basic requirements of high-quality development in China.(3)Data factors are different from physical factors,and the reform and innovation of property rights system,enterprise system and distribution system should be paid more attention in the process of market-oriented allocation.(4)China needs to give full play to the role of the government in the market-oriented allocation of data factors,continuously improve the relevant system,and carry out pilot reforms based on the successful experiences of other countries to accelerate the reasonable and effective allocation of data factor resources nationwide.The main innovation of this paper lies in the theoretical and practical logical analysis of the institutional construction under the market-oriented allocation of data factors from the Marxist institutional economic theory,which enhances the explanatory power of Marxist theory for China’s economic development and makes a marginal contribution to the development and innovation of the Marxist political and economic system.